Automotive Emission Test Equipment Market To Hit Value 9.8 Million By 2025Posted by Mrudula Anil Karmarkar on March 12th, 2021 The global automotive emission test equipment market size is anticipated to reach USD 869.8 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.1% during the forecast period. The demand for automotive emission test systems is estimated to increase owing to stringent regulations associated with vehicle exhaust emissions and soaring need for regular periodic technical inspections (PTI) that are aimed at regulating gaseous emissions from exhaust vehicles. Rising concerns to limit adverse environmental effects caused by passenger and light-duty vehicles are also expected to drive the automotive emission test equipment market over the forecast period. The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor. The emission test equipment segment held the largest share in the automotive emission test system market in 2018. It is likely to maintain its dominance in through 2025, on account of surging demand for testing equipment worldwide, especially from automobile manufacturers. Furthermore, the emission test services segment in the automotive emission test system market is a developed business sector across the U.S. and EU member nations. The growth of the segment can be attributed to increasing demand for service centers owing to emission targets mentioned by governments of EU countries. Asia Pacific is poised to register the highest CAGR over the forecast period. The growth of the region can be attributed to surging adoption of emission norms and growing emphasis on ensuring that automobile manufacturers comply with the same, especially in developing countries such as China and India. These countries are focusing extensively on regulating, monitoring, and reducing greenhouse gas (GHG) emissions in order to cut down adverse effects on environment due to excessive GHG emissions by vehicle exhaust systems. Automotive Emission Test Equipment Market Report Highlights
The adoption rate of periodic technical inspections, vehicle emission norms & standards, and inspection & maintenance programs is high in Europe and North America. European countries such as the U.K., Germany, France, Italy, Spain, the Netherlands, and Finland are already following vehicle emission stringent rules & regulations and have laid down strict standards & norms so as to regulate GHG emissions and other hazardous effects of pollutants emitted by vehicle exhaust systems. Therefore, Europe spearheaded the global vehicle emission test system market in 2018 owing to presence of several testing equipment manufacturers and emission testing service providers. Key market participants in the global automotive emission test equipment market include HORIBA, Ltd., Opus Inspection, TÜV Nord Group, Gemco Equipment Ltd, and TEXA S.p.A. Rising awareness and concerns regarding pollution caused by vehicle exhaust, especially from passenger cars and light-duty vehicles, are resulting in increased need for enforcement of stringent rules and regulations by governments of various countries. Governments across the world have drafted regulations with objectives of limiting hazardous releases from vehicles. For instance, the European Union has specified stringent norms for vehicles such as the Euro 6/VI standard to control vehicular emissions. In addition, there are strict rules, regulations, and standards for periodic technical inspections and maintenance to monitor automotive emanations across countries such as the U.S., Canada, Germany, U.K., France, Italy, Spain, China, and Japan. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/5712/ibb This system is intended to provide analysis and collection of exhaust data from various sources, which include non-road mobile machinery or vessels and light- and heavy-duty vehicles. Likewise, Snap-on Incorporated introduced a new emission analyzer. The DGA5000 product was designed for modern workshop and is available as a diesel analyzer or standalone gas analyzer and as a combined unit. The analyzer allows measuring oil temperature and vehicle RPM. Some of the prominent players in the automotive emission test system market include:
Grand View Research has segmented the global automotive emission test equipment market based on solution, emission equipment: Automotive Emission Test Equipment Solution Outlook (Revenue, USD Million, 2014 - 2025)
Automotive Emission Test Equipment Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com
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